U.S. construction spending ticks up 0.6 percent in November
Residential and highway construction lead the field with 1.9 and 2.2 percent growth for the month.
The
U.S. Census Bureau announced the following value put in place construction
statistics for November 2019:
Total Construction
Construction spending during November 2019 was estimated at a seasonally adjusted annual rate of $1,324.1 billion, 0.6 percent (±1.0 percent)* above the revised October estimate of $1,316.8 billion. The November figure is 4.1 percent (±1.5 percent) above the November 2018 estimate of $1,271.4 billion.
During the first eleven months of this year, construction spending amounted to $1,201.6 billion, 0.8 percent (±1.2 percent)* below the $1,211.8 billion for the same period in 2018.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $985.5 billion, 0.4 percent (±0.7 percent)* above the revised October estimate of $981.1 billion.
Residential construction was at a seasonally adjusted annual rate of $536.1 billion in November, 1.9 percent (±1.3 percent) above the revised October estimate of $526.3 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $449.4 billion in November, 1.2 percent (±0.7 percent) below the revised October estimate of $454.7 billion.
Public Construction
In November, the estimated seasonally adjusted annual rate of public construction spending was $338.6 billion, 0.9 percent (±1.5 percent)* above the revised October estimate of $335.7 billion.
Educational construction was at a seasonally adjusted annual rate of $83.9 billion, virtually unchanged from (±1.5 percent)* the revised October estimate of $84.0 billion.
Highway construction was at a seasonally adjusted annual rate of $96.4 billion, 2.2 percent (±3.9 percent)* above the revised October estimate of $94.3 billion.
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